Kuwait in $556M deal with Daewoo for five new tankers
Kuwait Oil Tanker Co (KOTC) has signed a $556 million contract with South Korea's Daewoo Shipbuilding & Marine Engineering to build five new tankers, the state news agency KUNA reported on Monday.
January 31, 2012 2:59 by Reuters
The four double-hull very large crude carriers (VLCC) will be able to carry 2.2 million barrels of crude each while the fifth vessel is for oil products with a capacity of 800,000 barrels, it said.
Kuwait will take delivery of the tankers in early 2014.
Daewoo Shipbuilding, the world’s No. 2 shipbuilder, is aiming for around $11 billion in new orders this year, the same as it initially forecast for 2011, despite a credit crunch that has seen orders cancelled. (Reporting by Reem Shamseddine; editing by James Jukwey) *image from globalarabnetwork.com
More on GCC
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
-
Dubai looking at alternatives to repay debt
-
Two more die in Saudi Arabia from SARS-like virus – WHO
-
Alwaleed’s Kingdom on the prowl
-
Qatar Airways now looks to Airbus
-
World’s Longest-Range Passenger Jet
-
Abu Dhabi says financial zone will bridge a gap
-
Five dead from new SARS-like virus in Saudi
-
Emaar boss says “flipping” needs to be controlled
Lately on Kipp
-
Dusting off the Emirates ID card
-
Turkish Airlines Can Ride Out Turbulence
-
Taking on Abercrombie & Fitch
-
Red Hat Expands Technical Account Management Services to Offer SAP® Solution-centric Support
-
R&M’s New CSR Report Highlights Company’s Achievements in Advancing Ecological Efficiency and Social Accountability
-
NCoV – First report of patient-to-nurse spread
